As stated by the IFC, MHP has requested IFC for a working capital loan to support MHP's strategy to increase its presence and grow including financial support to increase the land under cultivation up to approximately 500,000 ha by year 2016 in connection with the Company's expansion plan in farming and poultry operations. Once the first phase of the Vinnytsia new poultry facilities comes online in 2013, MHP's working capital requirements are expected to increase to be financed through internal cash generation and IFC debt.
This would be IFC's fourth investment in the MHP. In 2003, IFC initially invested in MHP to support its efforts in chilled poultry distribution and sunflower feed technology (Project ID 21071). IFC followed-up with an equity investment and a loan in 2005 (Project ID 24011) for further expansion of existing facilities and construction of new ones in Mironivsky's complex of integrated operations.
As stated by the IFC, MHP is a vertically integrated poultry and grain producer. It owns and operates the key steps of the chicken meat production process, starting from crop growing; grain processing; fodder production; egg incubation; poultry processing; distribution and sales. Associated agricultural and processing operations include sunflower oil, sausages and cooked meat production; fruit growing and sell; cattle breeding; meat processing.
The project is sponsored by MHP. Mr. Yuriy Kosyuk, a local entrepreneur, who owns 100% of WTI Trading Ltd, which in turns owns approximately 66% of MHP. A remaining 34% is floated on the London Stock Exchange. Mr. Kosyuk graduated from the Ukrainian Food Institute in 1991 and established MHP in 1998. Prior to launching his poultry business, Mr. Kosyuk was involved in various business activities, including grain and retail trading, food processing.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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Client - PJSC Mironivsky Hliboproduct:
Sobotyuk Anastasiya - Head of Investor Relations and Communications Department
Address: 158, Ak. Zabolotnogo St., Kyiv 03143, Ukraine
Phone: +38 044 207 99 58
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